Whats the point of converting 40%ers to eagles?

[SFBayArea]

What's the point of converting 40%ers to eagles?

If Ag prices go to $50/oz, at that point what would be the point of converting 40%ers to eagles? 40%ers would be worth a good premium in themselves at that point. Just wanted to see everyone's thoughts. I guess eagles would be the easiest to find a price on since they are an ounce each.

 

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[WormtownFJR]

Re: What's the point of converting 40%ers to eagles?

Portability.

 

[fistfulladirt]

Re: What's the point of converting 40%ers to eagles?

Eagles take up less space in the safe-deposit box.

 

[FreedomUIC]

Re: What's the point of converting 40%ers to eagles?

Eagles take up less space in the safe-deposit box.

 

[quiksilver]

Re: What's the point of converting 40%ers to eagles?

Eagles take up less space in the safe-deposit box.

If its space just convert to gold.

Personally i convert 40%ers to whatever i feel like at the time because from the hobby perspective it is just pure fun to go to the show, look , barter ,chat and see what i may like.

 

[Fredness]

Re: What's the point of converting 40%ers to eagles?

Safe-deposit boxes are neither safe, nor the place to "deposit" all your silver.
Something to remember - Risk Assessment.
Anything you put in a safe deposit box:
- is subject to flooding - if it CAN"T get wet (important papers and such) seal it in a zipper storage bag. (#1 threat in bank vaults)
- is inaccessible when the bank is closed.
- has to be transported to and from the bank (think weight).
- has to FIT in the drawer (3"x5"x22" is the smallest).
- has to be light enough to be handled by the weakest person with access to your box.
- should not contain "one of a kind" documents; always have certified true copies of anything stored.
- are subject to liens/seizure.

I personally think it's a good idea to spread your valuables out between a couple places, but keep enough at home that you can bail with something in the middle of the night (Fire, earthquake, flooding, localized/regional disaster).

 

[Fredness]

Re: What's the point of converting 40%ers to eagles?

OK, here we go - this is LOOSE, no rolls or containers:

External 3"x5"x22" box that is being filled with Silver Eagles:
Coins are ~41mmx3mm
That is ~1.62"x.12"
40x.12"= 4.8" wide = 1 row.
So, 13 rows on the bottom, 40 coins wide (520 coins) leaves .5" slack.
This allows a staggered stack for a second row of 12 (480 coins) or 1,000 coins total - Hmmm....
1,000 troy Oz is about 70 lbs. That's pretty dense.
It is also almost $35,000 as of this morning (give or take).

Now, 3x5x22 that is being filled with 40% halves:
~1.025"x.085"
56x.085"= 4.78" wide
so, 21 rows on the bottom, 56 coins wide (1176 coins) leaves .475" slack.
This allows a staggered stack for a second row of 20 (1120 coins),
and a third row of 21 (1176 coins) or 3,472 coins total at just about $17,663.92 (Coinflation melt calculator)
513.486 troy Oz is about 35.2 lbs.

</ math>

 

[Diggin-N-Dumps]

Re: What's the point of converting 40%ers to eagles?

OK, here we go - this is LOOSE, no rolls or containers:

External 3"x5"x22" box that is being filled with Silver Eagles:
Coins are ~41mmx3mm
That is ~1.62"x.12"
40x.12"= 4.8" wide = 1 row.
So, 13 rows on the bottom, 40 coins wide (520 coins) leaves .5" slack.
This allows a staggered stack for a second row of 12 (480 coins) or 1,000 coins total - Hmmm....
1,000 troy Oz is about 70 lbs. That's pretty dense.
It is also almost $35,000 as of this morning (give or take).

Now, 3x5x22 that is being filled with 40% halves:
~1.025"x.085"
56x.085"= 4.78" wide
so, 21 rows on the bottom, 56 coins wide (1176 coins) leaves .475" slack.
This allows a staggered stack for a second row of 20 (1120 coins),
and a third row of 21 (1176 coins) or 3,472 coins total at just about $17,663.92 (Coinflation melt calculator)
513.486 troy Oz is about 35.2 lbs.

</ math>

...That made my head hurt..lol

 

[FreedomUIC]

Re: What's the point of converting 40%ers to eagles?

Wow, the weather must really suck for you to actually WANT to do a calculation like that.

My head hurts now, thanks alot, 42 screaming kids on a track await me in 15 minutes.

 

[Fredness]

Re: What's the point of converting 40%ers to eagles?

Yea, me too...
8" of snow over the last few days and work is slow.

 

[$ilver$urfer]

Re: What's the point of converting 40%ers to eagles?

Good question posed -- I don't like to lose out through an upward conversion to eagles or gold that is why I am just holding on for as long as I can. It is my feeling that when the silver price hits its melting point, pun intended, it will be just as easy to sell 40%ers as 90% junk silver. Dealers now say it costs more to melt down 40%ers and other such nonsense when they try to lowball you on your 40%ers - the smelters have the equipment and process in place to melt them just the same as 90%ers as both coin types have copper in them.

HH,

$ilver$urfer

 

[CHAINCHOMP]

Re: What's the point of converting 40%ers to eagles?

i just keep what i get...dont convert anything...even junk/scrap broken jewelry...it all melts the same. keep it up and hh!

 

[SFBayArea]

Re: What's the point of converting 40%ers to eagles?

I get the storage thing.. I understand now.. but I just think there's also money lost in the conversion. Obviously the dealer's gonna skim a little off the top on such a deal.

 

[65gt350]

Re: What's the point of converting 40%ers to eagles?

If Ag prices go to $50/oz, at that point what would be the point of converting 40%ers to eagles? 40%ers would be worth a good premium in themselves at that point. Just wanted to see everyone's thoughts. I guess eagles would be the easiest to find a price on since they are an ounce each.

I don't think there is any reason to convert 40% to .999 silver. If you are going to convert then convert to gold. With the GSR ratio getting close to 40:1 I would be selling 40% and buying gold. When the ratio gets back up to 65:1 or greater I would trade the gold into .999 silver.

When and if silver gets to $50 dealers will still be paying less for 40%. On this recent run up I have seen the spreads go from -.80 behind spot all the way to -1.70 behind spot for 40%. If you try to convert 40% to SAE now it will cost you $5.00 per ounce. So for every 20 SAE it will cost you 23oz of 40% halves.

HH,
65GT350

 

[quiksilver]

Re: What's the point of converting 40%ers to eagles?

i just keep what i get...dont convert anything...even junk/scrap broken jewelry...it all melts the same. keep it up and hh!

Silver may melt all the same but there is a different ease to selling different types of silver at different times and places in the country. As there is a different demand for different types there will or may be differnt prices.

 

[fistfulladirt]

Re: What's the point of converting 40%ers to eagles?

The SAE's were just $2 over melt last weekend at the show. Should I have bought more?

 

[quiksilver]

Re: What's the point of converting 40%ers to eagles?

The SAE's were just $2 over melt last weekend at the show. Should I have bought more?

Thats up to you , personally at this point the only eagles im buying are painted or kool looking ones that are near melt prices [usually at a show when silver is rising].

I have noticed tho at some of the places ive been to they buy and sell according to the price of silver paying per ounce the same for eagles or junk. The point is when selling [as if] to certain places they dont care what mark up you paid for something. Twice at one pawn shop i go to i got proof eagles for little over the price of silver.

 

[Felixaaron]

Re: What's the point of converting 40%ers to eagles?

I actually considered selling a roll of eagles and converting to 90% this last weekend. I don't think the high premium will last on the eagles and I could convert and get more silver weight with 90%. eagles at 4-5$ above spot is silly IMO.

Plus I like the coins better made out of 90% the eagles are all the same to me.